Medical lasers are making rapid progress by opening avenues in new applications such as oncology, drug delivery, gene therapy, dentistry and nerve repair. Additive manufacturing and 3Dprinitng with laser technology is also gaining momentum as benefits of this technology have been documented by the automakers, aerospace industry and other industrial production sectors that are now using them in their production methods. The providers market is escalating, and a rising number of companies are offering machines for generative procedures.

A laser is made up of circuit board, laser diode, case, optics etc. Its electrical components are made from metals, semiconductor materials and ceramics. Plastic resin such as epoxy with glass fibers in it is used to make circuit board to support it. Semiconductor sections, such as the diodes are enclosed in plastic with metal leads that are linked to metal pads on the circuit board with solder. Resistors and capacitors, are made of a different kind of metals, plastics, and ceramics, glass etc. Glass provides high stability and low thermal expansion coefficient. Optics are either made up from glass, but then less costly acrylic plastics are used in laser pointers. Case can be made with many materials. For e.g., metal.

Manufacturers across the globe are augmenting allocations of R&D to gain a competitive edge and expand their product portfolio. Technological developments in material properties are further propelling the varied materials usage for laser components. On the other hand, fluctuating prices of feedstocks such as crude oil and natural gas prices and wavering metal prices will impede the growth of laser materials market.

Laser Materials Market, By Product

Based on the product, the global laser material market comprises of plastic, glass, metal, ceramics and other products. In 2016, metals captured around 46% of the overall laser materials market, followed by other materials. It is mainly used in manufacturing processes of electric components, laser diodes casing of laser and semiconductors. Plastics and ceramics usage is less when compared with glass, metals and non-metals but laser manufacturers are further exploring different methods to use plastics, glass and ceramics for making circuit boards, semiconductor parts etc. Glass is the rapidly growing laser material type between 2017 to 2024. Ceramic is another swiftly growing product category of the laser material market. It is used to manufacturing circuit boards, some semiconductor parts and non-semiconductor parts.

Laser Materials Market, By Application

Laser materials are used in communication, medical, lithography, optical storage, displays, printing, instrumentation & sensors, R&D and military etc. Communication sector accounted for around 1/3rd share in terms of laser materials market volumes, followed by material processing. The growth in communication sector is buoyed by voice demand, transitions to wireless networks etc. in developing countries. Military and R&D applications will accelerate at a fast pace due to its increasing importance. Laser directed armaments are now used to counteract the close-range danger of a small plane or drone attacking an airplane carrier or land-based targets. Laser based skin, therapeutic, hair, dental and other cosmetic treatments have seen a sudden swing in countries such as India, Indonesia, Thailand etc. due to rise in income levels and their desires to cure themselves and have improved care for their health and body. Printing, displays and entertainment category is also experiencing a significant growth due to popularity of laser-based light and entertainment shows, displays, multifunction laser printers, laser projection TV’s etc. Other application segments such as lithography, material processing, optical storage and instrumentation & sensors, are likely to display higher demand for laser materials over the coming years.

Laser Materials Market, By Region

Asia-Pacific held a significant share in the global laser material market and will exhibit rapid gains between 2017 and 2024. Other countries such as China, India, Taiwan, South Korea also offers substantial potential for laser materials market over the coming years. Rising healthcare expenditure, changing demographics particularly in India and China are contributing to the regional growth. Expansion of manufacturing base by leading electronics, automotive, semiconductors companies is also pushing the adoption of laser technologies thus contributing towards the growth of laser materials. Technological advancements in the laser based weapons and drones, lased based cinema projections, laser printers will further lead to growth. Laser research spending will propel the growth in European market. Latin America and Middle Eastern markets will grow at meager pace over the coming years.

Laser is a device that generates coherent monochromatic light by stimulated emission of photons from excited atoms or molecule and are most noteworthy inventions developed during the 20th century. These are of utmost importance in the processing of the disparate materials used in engineering and manufacturing. Ceramics, metals, plastics, glass etc. are some of the materials used by laser making companies along with the processing medium. Better ROI’s and high energy efficiency of laser technologies is propelling the growth of laser technology. Rising deployments of laser technology in different verticals such as medical, semiconductor & electronics, aerospace & defense and telecommunications will further spur the growth of laser materials market.

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What was the historic market data from 2012 to 2015, what is the industry growth forecast from 2016 to 2024?